Prospect Capital Restaurants reached a monumental deal with Michigan based franchisee group, Sharing the Bread LLC, in which PCR acquired 23 of their existing Jersey Mike’s restaurant locations in Michigan. The Sharing the Bread team came to the decision to sell early this year and began scouting for prospective owners with PCR landing at the top of the list. One of their biggest focuses was their people and making sure they would find a team that shares their ideals and beliefs and puts their people first. After many conversations and lots of research, a deal was reached and the transfer of ownership was scheduled for early October.
“Change is tough,” Sharing the Bread owner, Bob Middleton, tells his team, “but with change comes opportunity.” As formal introductions were made, Chris Rigassio, PCR CEO, shared his journey with Jersey Mike’s. Beginning as an hourly employee in 2011, after being told “no” many times, Rigassio was approved for his first franchise location. In 2014 Chris opened the East Brunswick location at the age of 26 which landed him as one of the youngest Jersey Mike’s franchisees at the time. Since 2014, Chris has opened 21 Jersey Mike’s locations throughout New Jersey and New York, introduced the first ghost kitchen concept to the brand, and began developing the five boroughs of New York.
Prospect Capital Restaurants is excited to welcome this talented group of people to their growing group. “We believe in our people and we invest in our people. Growth is measured in so many ways and we believe in providing the opportunity for growth, it’s in our DNA,” says CEO Chris Rigassio.
This acquisition takes PCR to a total of 45 Jersey Mike’s currently open and operating across 3 states with at least 2 more scheduled to open before the end of 2022. Prospect Capital Restaurants also operates Wingstop locations in New Jersey, New York, Massachusetts, and Indianapolis. For a list of all their locations please click here.